Cubist Systematic Strategies LLC Sells 254,443 Shares of Microvast Holdings, Inc. (NASDAQ:MVST)

Cubist Systematic Strategies LLC cut its holdings in shares of Microvast Holdings, Inc. (NASDAQ:MVST - Free Report) by 53.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,752 shares of the company's stock after selling 254,443 shares during the period. Cubist Systematic Strategies LLC owned about 0.07% of Microvast worth $457,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new stake in Microvast during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Microvast in the 4th quarter worth approximately $32,000. IMG Wealth Management Inc. acquired a new position in shares of Microvast in the 4th quarter worth approximately $38,000. Prudential Financial Inc. acquired a new position in shares of Microvast in the 4th quarter worth approximately $55,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in shares of Microvast in the 4th quarter worth approximately $73,000. 20.72% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MVST. HC Wainwright restated a "buy" rating and issued a $3.00 price target on shares of Microvast in a research report on Tuesday, April 8th. Wall Street Zen upgraded shares of Microvast from a "hold" rating to a "buy" rating in a research report on Thursday.

Microvast Trading Down 1.5%

Shares of NASDAQ MVST traded down $0.06 during midday trading on Thursday, reaching $3.52. The stock had a trading volume of 4,187,388 shares, compared to its average volume of 12,151,528. The company's 50 day moving average price is $1.97 and its 200 day moving average price is $1.67. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -9.25 and a beta of 2.72. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 1.30. Microvast Holdings, Inc. has a twelve month low of $0.15 and a twelve month high of $3.85.

Microvast (NASDAQ:MVST - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.10. The company had revenue of $116.49 million during the quarter, compared to analyst estimates of $104.00 million. Microvast had a negative net margin of 30.88% and a negative return on equity of 22.10%. As a group, sell-side analysts expect that Microvast Holdings, Inc. will post -0.3 EPS for the current year.

Microvast Company Profile

Microvast Holdings, Inc provides battery technologies for electric vehicles and energy storage solutions. The company offers a range of cell chemistries, such as lithium titanate oxide, lithium iron phosphate, and nickel manganese cobalt version 1 and 2. It also designs, develops, and manufactures battery components, such as cathode, anode, electrolyte, and separator.